{smcl}
{com}{sf}{ul off}{txt}{.-}
      name:  {res}<unnamed>
       {txt}log:  {res}C:\Users\dell\Desktop\CIPS test.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res}27 Apr 2019, 11:11:21

{com}. xtcips rjco2,maxl(2) bgl(1)

{txt}Pesaran Panel Unit Root Test with cross-sectional and first difference mean included for {res}rjco2
{txt}Deterministics chosen: {res}constant

{txt}Dynamics: lags criterion decision{res} General to Particular {txt}based on{res} F joint test

{txt}{bf:H0 (homogeneous non-stationary):}{res} bi = 0{txt} for all{res} i

{txt}CIPS = {res}   -2.143{txt}        N,T = ({res}81{txt},{res}30{txt})
{res}{txt}{hline 19}{c TT}{hline 10}{hline 11}{hline 11}
{col 20}{c |}       10%{col 31}         5%{col 42}         1%
{hline 19}{c +}{hline 10}{hline 11}{hline 11}
Critical values at {c |}{col 20}{res}{space 1}    -2.08{col 31}{space 2}    -2.16{col 42}{space 2}     -2.3
{txt}{hline 19}{c BT}{hline 10}{hline 11}{hline 11}

{com}. xtcips rjgdp,maxl(2) bgl(1)

{txt}Pesaran Panel Unit Root Test with cross-sectional and first difference mean included for {res}rjgdp
{txt}Deterministics chosen: {res}constant

{txt}Dynamics: lags criterion decision{res} General to Particular {txt}based on{res} F joint test

{txt}Individual{res} ti{txt} were{res} truncated{txt} during the aggregation process

{bf:H0 (homogeneous non-stationary):}{res} bi = 0{txt} for all{res} i

{txt}CIPS* = {res}   -2.596{txt}        N,T = ({res}81{txt},{res}30{txt})
{res}{txt}{hline 19}{c TT}{hline 10}{hline 11}{hline 11}
{col 20}{c |}       10%{col 31}         5%{col 42}         1%
{hline 19}{c +}{hline 10}{hline 11}{hline 11}
Critical values at {c |}{col 20}{res}{space 1}    -2.08{col 31}{space 2}    -2.16{col 42}{space 2}     -2.3
{txt}{hline 19}{c BT}{hline 10}{hline 11}{hline 11}

{com}. xtcips rjgdp2,maxl(2) bgl(1)
{err}variable {bf}rjgdp2{sf} not found
{txt}{search r(111), local:r(111);}

{com}. {txt}*(1 variable, 2430 observations pasted into data editor)
{com}
. xtcips rjgdp2,maxl(2) bgl(1)

{txt}Pesaran Panel Unit Root Test with cross-sectional and first difference mean included for {res}rjgdp2
{txt}Deterministics chosen: {res}constant

{txt}Dynamics: lags criterion decision{res} General to Particular {txt}based on{res} F joint test

{txt}Individual{res} ti{txt} were{res} truncated{txt} during the aggregation process

{bf:H0 (homogeneous non-stationary):}{res} bi = 0{txt} for all{res} i

{txt}CIPS* = {res}   -2.517{txt}        N,T = ({res}81{txt},{res}30{txt})
{res}{txt}{hline 19}{c TT}{hline 10}{hline 11}{hline 11}
{col 20}{c |}       10%{col 31}         5%{col 42}         1%
{hline 19}{c +}{hline 10}{hline 11}{hline 11}
Critical values at {c |}{col 20}{res}{space 1}    -2.08{col 31}{space 2}    -2.16{col 42}{space 2}     -2.3
{txt}{hline 19}{c BT}{hline 10}{hline 11}{hline 11}

{com}. xtcips ts,maxl(2) bgl(1)

{txt}Pesaran Panel Unit Root Test with cross-sectional and first difference mean included for {res}ts
{txt}Deterministics chosen: {res}constant

{txt}Dynamics: lags criterion decision{res} General to Particular {txt}based on{res} F joint test

{txt}Individual{res} ti{txt} were{res} truncated{txt} during the aggregation process

{bf:H0 (homogeneous non-stationary):}{res} bi = 0{txt} for all{res} i

{txt}CIPS* = {res}   -2.205{txt}        N,T = ({res}81{txt},{res}30{txt})
{res}{txt}{hline 19}{c TT}{hline 10}{hline 11}{hline 11}
{col 20}{c |}       10%{col 31}         5%{col 42}         1%
{hline 19}{c +}{hline 10}{hline 11}{hline 11}
Critical values at {c |}{col 20}{res}{space 1}    -2.08{col 31}{space 2}    -2.16{col 42}{space 2}     -2.3
{txt}{hline 19}{c BT}{hline 10}{hline 11}{hline 11}

{com}. xtcips es,maxl(2) bgl(1)

{txt}Pesaran Panel Unit Root Test with cross-sectional and first difference mean included for {res}es
{txt}Deterministics chosen: {res}constant

{txt}Dynamics: lags criterion decision{res} General to Particular {txt}based on{res} F joint test

{txt}{bf:H0 (homogeneous non-stationary):}{res} bi = 0{txt} for all{res} i

{txt}CIPS = {res}   -1.979{txt}        N,T = ({res}81{txt},{res}30{txt})
{res}{txt}{hline 19}{c TT}{hline 10}{hline 11}{hline 11}
{col 20}{c |}       10%{col 31}         5%{col 42}         1%
{hline 19}{c +}{hline 10}{hline 11}{hline 11}
Critical values at {c |}{col 20}{res}{space 1}    -2.08{col 31}{space 2}    -2.16{col 42}{space 2}     -2.3
{txt}{hline 19}{c BT}{hline 10}{hline 11}{hline 11}

{com}. xtcips fd,maxl(2) bgl(1)

{txt}Pesaran Panel Unit Root Test with cross-sectional and first difference mean included for {res}fd
{txt}Deterministics chosen: {res}constant

{txt}Dynamics: lags criterion decision{res} General to Particular {txt}based on{res} F joint test

{txt}{bf:H0 (homogeneous non-stationary):}{res} bi = 0{txt} for all{res} i

{txt}CIPS = {res}   -2.137{txt}        N,T = ({res}81{txt},{res}30{txt})
{res}{txt}{hline 19}{c TT}{hline 10}{hline 11}{hline 11}
{col 20}{c |}       10%{col 31}         5%{col 42}         1%
{hline 19}{c +}{hline 10}{hline 11}{hline 11}
Critical values at {c |}{col 20}{res}{space 1}    -2.08{col 31}{space 2}    -2.16{col 42}{space 2}     -2.3
{txt}{hline 19}{c BT}{hline 10}{hline 11}{hline 11}

{com}. xtcips fdi,maxl(2) bgl(1)

{txt}Pesaran Panel Unit Root Test with cross-sectional and first difference mean included for {res}fdi
{txt}Deterministics chosen: {res}constant

{txt}Dynamics: lags criterion decision{res} General to Particular {txt}based on{res} F joint test

{txt}Individual{res} ti{txt} were{res} truncated{txt} during the aggregation process

{bf:H0 (homogeneous non-stationary):}{res} bi = 0{txt} for all{res} i

{txt}CIPS* = {res}   -3.770{txt}        N,T = ({res}81{txt},{res}30{txt})
{res}{txt}{hline 19}{c TT}{hline 10}{hline 11}{hline 11}
{col 20}{c |}       10%{col 31}         5%{col 42}         1%
{hline 19}{c +}{hline 10}{hline 11}{hline 11}
Critical values at {c |}{col 20}{res}{space 1}    -2.08{col 31}{space 2}    -2.16{col 42}{space 2}     -2.3
{txt}{hline 19}{c BT}{hline 10}{hline 11}{hline 11}

{com}. xtcips tp,maxl(2) bgl(1)

{txt}Pesaran Panel Unit Root Test with cross-sectional and first difference mean included for {res}tp
{txt}Deterministics chosen: {res}constant

{txt}Dynamics: lags criterion decision{res} General to Particular {txt}based on{res} F joint test

{txt}Individual{res} ti{txt} were{res} truncated{txt} during the aggregation process

{bf:H0 (homogeneous non-stationary):}{res} bi = 0{txt} for all{res} i

{txt}CIPS* = {res}   -1.867{txt}        N,T = ({res}81{txt},{res}30{txt})
{res}{txt}{hline 19}{c TT}{hline 10}{hline 11}{hline 11}
{col 20}{c |}       10%{col 31}         5%{col 42}         1%
{hline 19}{c +}{hline 10}{hline 11}{hline 11}
Critical values at {c |}{col 20}{res}{space 1}    -2.08{col 31}{space 2}    -2.16{col 42}{space 2}     -2.3
{txt}{hline 19}{c BT}{hline 10}{hline 11}{hline 11}

{com}. help xtpedroni

. findit cointreg

. help xtcointreg

. xtcointreg rjco2 rjgdp rjgdp2 ts es fd fdi tp, est(fmols)
Method of estimation: fmols
Number
{res}
{txt}Cave[7,2]
          beta  t-stat
 rjgdp {res}   1.62   16.97
{txt}rjgdp2 {res}  -0.20  -10.75
{txt}    ts {res}   0.01   19.99
{txt}    es {res}   0.15   24.97
{txt}    fd {res}   0.13   46.86
{txt}   fdi {res}  -0.01    6.07
{txt}    tp {res}  -0.08   12.46
{reset}
{com}. xtcointreg rjco2 rjgdp rjgdp2 ts es fd fdi tp
Method of estimation: FMOLS
Number
{res}
{txt}Cave[7,2]
          beta  t-stat
 rjgdp {res}   1.62   16.97
{txt}rjgdp2 {res}  -0.20  -10.75
{txt}    ts {res}   0.01   19.99
{txt}    es {res}   0.15   24.97
{txt}    fd {res}   0.13   46.86
{txt}   fdi {res}  -0.01    6.07
{txt}    tp {res}  -0.08   12.46
{reset}
{com}. xtmg rjco2 rjgdp rjgdp2 ts es fd fdi tp


{txt}Pesaran & Smith (1995) Mean Group estimator

All coefficients represent averages across groups (group variable: {res}id{txt})
Coefficient averages computed as {res}unweighted{txt} means

Mean Group type estimation{col 49}Number of obs{col 67}={col 69}{res}     2,430
{txt}Group variable: {res}id{col 49}{txt}Number of groups{col 67}={col 69}{res}        81

{txt}{col 49}Obs per group:
{col 63}min{col 67}={col 69}{res}        30
{txt}{col 63}avg{col 67}={col 69}{res}      30.0
{txt}{col 63}max{col 67}={col 69}{res}        30

{txt}{col 49}Wald chi2({res}7{txt}){col 67}={col 70}{res}    33.64
{txt}{col 49}Prob > chi2{col 67}={res}{col 73}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       rjco2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}rjgdp {c |}{col 14}{res}{space 2} 1.652774{col 26}{space 2} .8376101{col 37}{space 1}    1.97{col 46}{space 3}0.048{col 54}{space 4} .0110887{col 67}{space 3}  3.29446
{txt}{space 6}rjgdp2 {c |}{col 14}{res}{space 2}-.2085311{col 26}{space 2} .1453594{col 37}{space 1}   -1.43{col 46}{space 3}0.151{col 54}{space 4}-.4934302{col 67}{space 3}  .076368
{txt}{space 10}ts {c |}{col 14}{res}{space 2} .0406843{col 26}{space 2} .0570226{col 37}{space 1}    0.71{col 46}{space 3}0.476{col 54}{space 4} -.071078{col 67}{space 3} .1524466
{txt}{space 10}es {c |}{col 14}{res}{space 2} .1530118{col 26}{space 2} .0906785{col 37}{space 1}    1.69{col 46}{space 3}0.092{col 54}{space 4}-.0247148{col 67}{space 3} .3307383
{txt}{space 10}fd {c |}{col 14}{res}{space 2} .1403382{col 26}{space 2} .0374671{col 37}{space 1}    3.75{col 46}{space 3}0.000{col 54}{space 4}  .066904{col 67}{space 3} .2137723
{txt}{space 9}fdi {c |}{col 14}{res}{space 2}-.0067805{col 26}{space 2} .0051584{col 37}{space 1}   -1.31{col 46}{space 3}0.189{col 54}{space 4}-.0168908{col 67}{space 3} .0033298
{txt}{space 10}tp {c |}{col 14}{res}{space 2} .0132641{col 26}{space 2} .3242593{col 37}{space 1}    0.04{col 46}{space 3}0.967{col 54}{space 4}-.6222724{col 67}{space 3} .6488006
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-4.033113{col 26}{space 2} 2.550869{col 37}{space 1}   -1.58{col 46}{space 3}0.114{col 54}{space 4}-9.032724{col 67}{space 3} .9664983
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Root Mean Squared Error (sigma): {res}0.0529

{com}. help xtcsd

. xtreg rjco2 rjgdp rjgdp2 ts es fd fdi tp,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}     2,430
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        81

{txt}R-sq:{col 49}Obs per group:
     within  = {res}0.3315{col 63}{txt}min{col 67}={col 69}{res}        30
{txt}     between = {res}0.1908{col 63}{txt}avg{col 67}={col 69}{res}      30.0
{txt}     overall = {res}0.1979{col 63}{txt}max{col 67}={col 69}{res}        30

{txt}{col 49}F({res}7{txt},{res}2342{txt}){col 67}={col 70}{res}   165.94
{txt}corr(u_i, Xb){col 16}= {res}-0.0079{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       rjco2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      t{col 46}   P>|t|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}rjgdp {c |}{col 14}{res}{space 2}  1.20767{col 26}{space 2} .0833063{col 37}{space 1}   14.50{col 46}{space 3}0.000{col 54}{space 4} 1.044308{col 67}{space 3} 1.371032
{txt}{space 6}rjgdp2 {c |}{col 14}{res}{space 2}-.1515176{col 26}{space 2} .0119074{col 37}{space 1}  -12.72{col 46}{space 3}0.000{col 54}{space 4}-.1748678{col 67}{space 3}-.1281674
{txt}{space 10}ts {c |}{col 14}{res}{space 2} .0083917{col 26}{space 2} .0276793{col 37}{space 1}    0.30{col 46}{space 3}0.762{col 54}{space 4}-.0458867{col 67}{space 3} .0626702
{txt}{space 10}es {c |}{col 14}{res}{space 2} .2101748{col 26}{space 2} .0404886{col 37}{space 1}    5.19{col 46}{space 3}0.000{col 54}{space 4} .1307776{col 67}{space 3} .2895719
{txt}{space 10}fd {c |}{col 14}{res}{space 2} .1175279{col 26}{space 2} .0185883{col 37}{space 1}    6.32{col 46}{space 3}0.000{col 54}{space 4} .0810767{col 67}{space 3} .1539791
{txt}{space 9}fdi {c |}{col 14}{res}{space 2} .0099357{col 26}{space 2} .0058373{col 37}{space 1}    1.70{col 46}{space 3}0.089{col 54}{space 4}-.0015111{col 67}{space 3} .0213825
{txt}{space 10}tp {c |}{col 14}{res}{space 2} .3322074{col 26}{space 2} .0544638{col 37}{space 1}    6.10{col 46}{space 3}0.000{col 54}{space 4} .2254051{col 67}{space 3} .4390097
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-4.991597{col 26}{space 2} .3486455{col 37}{space 1}  -14.32{col 46}{space 3}0.000{col 54}{space 4}-5.675283{col 67}{space 3}-4.307911
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .65894687
     {txt}sigma_e {c |} {res} .13933448
         {txt}rho {c |} {res} .95720233{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}80{txt}, {res}2342{txt}) = {res}130.07{col 62}{txt}Prob > F = {res}0.0000

{com}. xtcsd
{err}Method option not specified

{com}. xtcsd,fre
{res} 
{txt}  Frees' test of cross sectional independence = {res}   16.596
{txt}|--------------------------------------------------------|
  Critical values from Frees' Q distribution
                      alpha = 0.10 :{res}   0.0861
{txt}                      alpha = 0.05 :{res}   0.1119
{txt}                      alpha = 0.01 :{res}   0.1598

{com}. xtcsd,pes
{res} 
{txt}Pesaran's test of cross sectional independence = {res}    3.083{txt}, Pr = {res}0.0021

{com}. xtcsd,fri
{res} 
{txt}Friedman's test of cross sectional independence = {res}   57.445{txt}, Pr = {res}0.9733

{com}. help xtcsd

. xtpmg rjco2 rjgdp rjgdp2 ts es fd fdi tp
{err}matrix operation not found
{txt}{search r(501), local:r(501);}

{com}. xtmg rjco2 rjgdp rjgdp2 ts es fd fdi tp,aug
{err}              st_store():  3200  conformability error
                 <istmt>:     -  function returned error
{txt}{search r(3200), local:r(3200);}

{com}. xtmg rjco2 rjgdp rjgdp2 ts es fd fdi tp


{txt}Pesaran & Smith (1995) Mean Group estimator

All coefficients represent averages across groups (group variable: {res}id{txt})
Coefficient averages computed as {res}unweighted{txt} means

Mean Group type estimation{col 49}Number of obs{col 67}={col 69}{res}     2,430
{txt}Group variable: {res}id{col 49}{txt}Number of groups{col 67}={col 69}{res}        81

{txt}{col 49}Obs per group:
{col 63}min{col 67}={col 69}{res}        30
{txt}{col 63}avg{col 67}={col 69}{res}      30.0
{txt}{col 63}max{col 67}={col 69}{res}        30

{txt}{col 49}Wald chi2({res}7{txt}){col 67}={col 70}{res}    33.64
{txt}{col 49}Prob > chi2{col 67}={res}{col 73}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       rjco2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}rjgdp {c |}{col 14}{res}{space 2} 1.652774{col 26}{space 2} .8376101{col 37}{space 1}    1.97{col 46}{space 3}0.048{col 54}{space 4} .0110887{col 67}{space 3}  3.29446
{txt}{space 6}rjgdp2 {c |}{col 14}{res}{space 2}-.2085311{col 26}{space 2} .1453594{col 37}{space 1}   -1.43{col 46}{space 3}0.151{col 54}{space 4}-.4934302{col 67}{space 3}  .076368
{txt}{space 10}ts {c |}{col 14}{res}{space 2} .0406843{col 26}{space 2} .0570226{col 37}{space 1}    0.71{col 46}{space 3}0.476{col 54}{space 4} -.071078{col 67}{space 3} .1524466
{txt}{space 10}es {c |}{col 14}{res}{space 2} .1530118{col 26}{space 2} .0906785{col 37}{space 1}    1.69{col 46}{space 3}0.092{col 54}{space 4}-.0247148{col 67}{space 3} .3307383
{txt}{space 10}fd {c |}{col 14}{res}{space 2} .1403382{col 26}{space 2} .0374671{col 37}{space 1}    3.75{col 46}{space 3}0.000{col 54}{space 4}  .066904{col 67}{space 3} .2137723
{txt}{space 9}fdi {c |}{col 14}{res}{space 2}-.0067805{col 26}{space 2} .0051584{col 37}{space 1}   -1.31{col 46}{space 3}0.189{col 54}{space 4}-.0168908{col 67}{space 3} .0033298
{txt}{space 10}tp {c |}{col 14}{res}{space 2} .0132641{col 26}{space 2} .3242593{col 37}{space 1}    0.04{col 46}{space 3}0.967{col 54}{space 4}-.6222724{col 67}{space 3} .6488006
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-4.033113{col 26}{space 2} 2.550869{col 37}{space 1}   -1.58{col 46}{space 3}0.114{col 54}{space 4}-9.032724{col 67}{space 3} .9664983
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Root Mean Squared Error (sigma): {res}0.0529

{com}. xtmg rjco2 rjgdp rjgdp2 ts es fd fdi tp,cce


{txt}Pesaran (2006) Common Correlated Effects Mean Group estimator

All coefficients represent averages across groups (group variable: {res}id{txt})
Coefficient averages computed as {res}unweighted{txt} means

Mean Group type estimation{col 49}Number of obs{col 67}={col 69}{res}     2,430
{txt}Group variable: {res}id{col 49}{txt}Number of groups{col 67}={col 69}{res}        81

{txt}{col 49}Obs per group:
{col 63}min{col 67}={col 69}{res}        30
{txt}{col 63}avg{col 67}={col 69}{res}      30.0
{txt}{col 63}max{col 67}={col 69}{res}        30

{txt}{col 49}Wald chi2({res}7{txt}){col 67}={col 70}{res}    15.18
{txt}{col 49}Prob > chi2{col 67}={res}{col 73}0.0337

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       rjco2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}rjgdp {c |}{col 14}{res}{space 2}-.0589066{col 26}{space 2} 2.165505{col 37}{space 1}   -0.03{col 46}{space 3}0.978{col 54}{space 4}-4.303219{col 67}{space 3} 4.185406
{txt}{space 6}rjgdp2 {c |}{col 14}{res}{space 2} -.016135{col 26}{space 2} .2859508{col 37}{space 1}   -0.06{col 46}{space 3}0.955{col 54}{space 4}-.5765883{col 67}{space 3} .5443183
{txt}{space 10}ts {c |}{col 14}{res}{space 2} .1403418{col 26}{space 2} .0479459{col 37}{space 1}    2.93{col 46}{space 3}0.003{col 54}{space 4} .0463695{col 67}{space 3} .2343141
{txt}{space 10}es {c |}{col 14}{res}{space 2} .0863886{col 26}{space 2}  .077984{col 37}{space 1}    1.11{col 46}{space 3}0.268{col 54}{space 4}-.0664573{col 67}{space 3} .2392345
{txt}{space 10}fd {c |}{col 14}{res}{space 2} .0264951{col 26}{space 2} .0370994{col 37}{space 1}    0.71{col 46}{space 3}0.475{col 54}{space 4}-.0462184{col 67}{space 3} .0992086
{txt}{space 9}fdi {c |}{col 14}{res}{space 2} .0011141{col 26}{space 2} .0044466{col 37}{space 1}    0.25{col 46}{space 3}0.802{col 54}{space 4}-.0076011{col 67}{space 3} .0098292
{txt}{space 10}tp {c |}{col 14}{res}{space 2}-.7242545{col 26}{space 2} 2.427838{col 37}{space 1}   -0.30{col 46}{space 3}0.765{col 54}{space 4} -5.48273{col 67}{space 3} 4.034221
{txt}{space 3}rjco2_avg {c |}{col 14}{res}{space 2} 1.191451{col 26}{space 2} .4018455{col 37}{space 1}    2.96{col 46}{space 3}0.003{col 54}{space 4} .4038487{col 67}{space 3} 1.979054
{txt}{space 3}rjgdp_avg {c |}{col 14}{res}{space 2} -.708283{col 26}{space 2} 1.322741{col 37}{space 1}   -0.54{col 46}{space 3}0.592{col 54}{space 4}-3.300808{col 67}{space 3} 1.884242
{txt}{space 2}rjgdp2_avg {c |}{col 14}{res}{space 2} .0664161{col 26}{space 2}  .184397{col 37}{space 1}    0.36{col 46}{space 3}0.719{col 54}{space 4}-.2949955{col 67}{space 3} .4278276
{txt}{space 6}ts_avg {c |}{col 14}{res}{space 2} -.108464{col 26}{space 2} .1936533{col 37}{space 1}   -0.56{col 46}{space 3}0.575{col 54}{space 4}-.4880175{col 67}{space 3} .2710894
{txt}{space 6}es_avg {c |}{col 14}{res}{space 2} .1349138{col 26}{space 2} .3088648{col 37}{space 1}    0.44{col 46}{space 3}0.662{col 54}{space 4}-.4704501{col 67}{space 3} .7402776
{txt}{space 6}fd_avg {c |}{col 14}{res}{space 2}-.0233484{col 26}{space 2} .2426284{col 37}{space 1}   -0.10{col 46}{space 3}0.923{col 54}{space 4}-.4988913{col 67}{space 3} .4521945
{txt}{space 5}fdi_avg {c |}{col 14}{res}{space 2}-.0035784{col 26}{space 2} .0209704{col 37}{space 1}   -0.17{col 46}{space 3}0.865{col 54}{space 4}-.0446796{col 67}{space 3} .0375228
{txt}{space 6}tp_avg {c |}{col 14}{res}{space 2} 3.585251{col 26}{space 2} 2.125555{col 37}{space 1}    1.69{col 46}{space 3}0.092{col 54}{space 4}-.5807613{col 67}{space 3} 7.751263
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-15.32128{col 26}{space 2} 7.946415{col 37}{space 1}   -1.93{col 46}{space 3}0.054{col 54}{space 4}-30.89597{col 67}{space 3} .2534037
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Root Mean Squared Error (sigma): {res}0.0303
Cross-section averaged regressors{txt} are marked by the suffix {res}avg{txt}.

{com}. xtmg rjco2 rjgdp rjgdp2 ts es fd fdi tp,aug
{err}              st_store():  3200  conformability error
                 <istmt>:     -  function returned error
{txt}{search r(3200), local:r(3200);}

{com}. xtmg rjco2 rjgdp  ts es fd fdi tp,aug
{err}              st_store():  3200  conformability error
                 <istmt>:     -  function returned error
{txt}{search r(3200), local:r(3200);}

{com}. xtmg rjco2 rjgdp rjgdp2 ts es fd fdi tp


{txt}Pesaran & Smith (1995) Mean Group estimator

All coefficients represent averages across groups (group variable: {res}id{txt})
Coefficient averages computed as {res}unweighted{txt} means

Mean Group type estimation{col 49}Number of obs{col 67}={col 69}{res}     2,430
{txt}Group variable: {res}id{col 49}{txt}Number of groups{col 67}={col 69}{res}        81

{txt}{col 49}Obs per group:
{col 63}min{col 67}={col 69}{res}        30
{txt}{col 63}avg{col 67}={col 69}{res}      30.0
{txt}{col 63}max{col 67}={col 69}{res}        30

{txt}{col 49}Wald chi2({res}7{txt}){col 67}={col 70}{res}    33.64
{txt}{col 49}Prob > chi2{col 67}={res}{col 73}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       rjco2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}rjgdp {c |}{col 14}{res}{space 2} 1.652774{col 26}{space 2} .8376101{col 37}{space 1}    1.97{col 46}{space 3}0.048{col 54}{space 4} .0110887{col 67}{space 3}  3.29446
{txt}{space 6}rjgdp2 {c |}{col 14}{res}{space 2}-.2085311{col 26}{space 2} .1453594{col 37}{space 1}   -1.43{col 46}{space 3}0.151{col 54}{space 4}-.4934302{col 67}{space 3}  .076368
{txt}{space 10}ts {c |}{col 14}{res}{space 2} .0406843{col 26}{space 2} .0570226{col 37}{space 1}    0.71{col 46}{space 3}0.476{col 54}{space 4} -.071078{col 67}{space 3} .1524466
{txt}{space 10}es {c |}{col 14}{res}{space 2} .1530118{col 26}{space 2} .0906785{col 37}{space 1}    1.69{col 46}{space 3}0.092{col 54}{space 4}-.0247148{col 67}{space 3} .3307383
{txt}{space 10}fd {c |}{col 14}{res}{space 2} .1403382{col 26}{space 2} .0374671{col 37}{space 1}    3.75{col 46}{space 3}0.000{col 54}{space 4}  .066904{col 67}{space 3} .2137723
{txt}{space 9}fdi {c |}{col 14}{res}{space 2}-.0067805{col 26}{space 2} .0051584{col 37}{space 1}   -1.31{col 46}{space 3}0.189{col 54}{space 4}-.0168908{col 67}{space 3} .0033298
{txt}{space 10}tp {c |}{col 14}{res}{space 2} .0132641{col 26}{space 2} .3242593{col 37}{space 1}    0.04{col 46}{space 3}0.967{col 54}{space 4}-.6222724{col 67}{space 3} .6488006
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-4.033113{col 26}{space 2} 2.550869{col 37}{space 1}   -1.58{col 46}{space 3}0.114{col 54}{space 4}-9.032724{col 67}{space 3} .9664983
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Root Mean Squared Error (sigma): {res}0.0529

{com}. xtcointreg rjco2 rjgdp rjgdp2 ts es fd fdi tp, est(fmols)
Method of estimation: fmols
Number
{res}
{txt}Cave[7,2]
          beta  t-stat
 rjgdp {res}   1.62   16.97
{txt}rjgdp2 {res}  -0.20  -10.75
{txt}    ts {res}   0.01   19.99
{txt}    es {res}   0.15   24.97
{txt}    fd {res}   0.13   46.86
{txt}   fdi {res}  -0.01    6.07
{txt}    tp {res}  -0.08   12.46
{reset}
{com}. xtmg co2 gdp  ts es fd fdi tp


{txt}Pesaran & Smith (1995) Mean Group estimator

All coefficients represent averages across groups (group variable: {res}id{txt})
Coefficient averages computed as {res}unweighted{txt} means

Mean Group type estimation{col 49}Number of obs{col 67}={col 69}{res}     2,430
{txt}Group variable: {res}id{col 49}{txt}Number of groups{col 67}={col 69}{res}        81

{txt}{col 49}Obs per group:
{col 63}min{col 67}={col 69}{res}        30
{txt}{col 63}avg{col 67}={col 69}{res}      30.0
{txt}{col 63}max{col 67}={col 69}{res}        30

{txt}{col 49}Wald chi2({res}6{txt}){col 67}={col 70}{res}   105.47
{txt}{col 49}Prob > chi2{col 67}={res}{col 73}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}         co2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}gdp {c |}{col 14}{res}{space 2} .1427745{col 26}{space 2} .0418323{col 37}{space 1}    3.41{col 46}{space 3}0.001{col 54}{space 4} .0607847{col 67}{space 3} .2247642
{txt}{space 10}ts {c |}{col 14}{res}{space 2} .0029802{col 26}{space 2} .0541586{col 37}{space 1}    0.06{col 46}{space 3}0.956{col 54}{space 4}-.1031688{col 67}{space 3} .1091292
{txt}{space 10}es {c |}{col 14}{res}{space 2} .2019936{col 26}{space 2} .1199088{col 37}{space 1}    1.68{col 46}{space 3}0.092{col 54}{space 4}-.0330234{col 67}{space 3} .4370106
{txt}{space 10}fd {c |}{col 14}{res}{space 2} .1681884{col 26}{space 2} .0412519{col 37}{space 1}    4.08{col 46}{space 3}0.000{col 54}{space 4} .0873361{col 67}{space 3} .2490407
{txt}{space 9}fdi {c |}{col 14}{res}{space 2}-.0043414{col 26}{space 2} .0055192{col 37}{space 1}   -0.79{col 46}{space 3}0.432{col 54}{space 4}-.0151589{col 67}{space 3} .0064761
{txt}{space 10}tp {c |}{col 14}{res}{space 2} .7253552{col 26}{space 2} .3166777{col 37}{space 1}    2.29{col 46}{space 3}0.022{col 54}{space 4} .1046784{col 67}{space 3} 1.346032
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-3.090362{col 26}{space 2} 2.064206{col 37}{space 1}   -1.50{col 46}{space 3}0.134{col 54}{space 4}-7.136131{col 67}{space 3} .9554079
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Root Mean Squared Error (sigma): {res}0.0592

{com}. xtmg co2 gdp  ts es fd fdi tp,aug
{err}              st_store():  3200  conformability error
                 <istmt>:     -  function returned error
{txt}{search r(3200), local:r(3200);}

{com}. help xtmg

. save "C:\Users\dell\Desktop\7.21all.dta", replace
{txt}file C:\Users\dell\Desktop\7.21all.dta saved

{com}. use "C:\Users\dell\Desktop\7.21hi.dta"

. xtmg rjco2 rjgdp  ts es fd fdi tp,aug


{txt}Augmented Mean Group estimator (Bond & Eberhardt, 2009; Eberhardt & Teal, 2010)

Common dynamic process {res}included{txt} as additional regressor
All coefficients represent averages across groups (group variable: {res}id{txt})
Coefficient averages computed as {res}unweighted{txt} means

Mean Group type estimation{col 49}Number of obs{col 67}={col 69}{res}       660
{txt}Group variable: {res}id{col 49}{txt}Number of groups{col 67}={col 69}{res}        22

{txt}{col 49}Obs per group:
{col 63}min{col 67}={col 69}{res}        30
{txt}{col 63}avg{col 67}={col 69}{res}      30.0
{txt}{col 63}max{col 67}={col 69}{res}        30

{txt}{col 49}Wald chi2({res}6{txt}){col 67}={col 70}{res}    17.34
{txt}{col 49}Prob > chi2{col 67}={res}{col 73}0.0081

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       rjco2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}rjgdp {c |}{col 14}{res}{space 2}-.0788934{col 26}{space 2} .1068904{col 37}{space 1}   -0.74{col 46}{space 3}0.460{col 54}{space 4}-.2883948{col 67}{space 3} .1306081
{txt}{space 10}ts {c |}{col 14}{res}{space 2} .0874823{col 26}{space 2}  .097036{col 37}{space 1}    0.90{col 46}{space 3}0.367{col 54}{space 4}-.1027047{col 67}{space 3} .2776693
{txt}{space 10}es {c |}{col 14}{res}{space 2} .3770502{col 26}{space 2} .1289806{col 37}{space 1}    2.92{col 46}{space 3}0.003{col 54}{space 4} .1242529{col 67}{space 3} .6298475
{txt}{space 10}fd {c |}{col 14}{res}{space 2}-.0088858{col 26}{space 2} .0822252{col 37}{space 1}   -0.11{col 46}{space 3}0.914{col 54}{space 4}-.1700441{col 67}{space 3} .1522726
{txt}{space 9}fdi {c |}{col 14}{res}{space 2}-.0112769{col 26}{space 2} .0059538{col 37}{space 1}   -1.89{col 46}{space 3}0.058{col 54}{space 4}-.0229461{col 67}{space 3} .0003924
{txt}{space 10}tp {c |}{col 14}{res}{space 2} .9917031{col 26}{space 2} 1.135052{col 37}{space 1}    0.87{col 46}{space 3}0.382{col 54}{space 4}-1.232957{col 67}{space 3} 3.216363
{txt}{space 7}c_d_p {c |}{col 14}{res}{space 2} 1.090506{col 26}{space 2}  .352445{col 37}{space 1}    3.09{col 46}{space 3}0.002{col 54}{space 4} .3997266{col 67}{space 3} 1.781286
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-3.904638{col 26}{space 2} 6.422789{col 37}{space 1}   -0.61{col 46}{space 3}0.543{col 54}{space 4}-16.49307{col 67}{space 3} 8.683796
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Root Mean Squared Error (sigma): {res}0.0256
{txt}Variable {res}c_d_p{txt} refers to the common dynamic process.

{com}. xtmg rjco2 rjgdp rjgdp2 ts es fd fdi tp,aug


{txt}Augmented Mean Group estimator (Bond & Eberhardt, 2009; Eberhardt & Teal, 2010)

Common dynamic process {res}included{txt} as additional regressor
All coefficients represent averages across groups (group variable: {res}id{txt})
Coefficient averages computed as {res}unweighted{txt} means

Mean Group type estimation{col 49}Number of obs{col 67}={col 69}{res}       660
{txt}Group variable: {res}id{col 49}{txt}Number of groups{col 67}={col 69}{res}        22

{txt}{col 49}Obs per group:
{col 63}min{col 67}={col 69}{res}        30
{txt}{col 63}avg{col 67}={col 69}{res}      30.0
{txt}{col 63}max{col 67}={col 69}{res}        30

{txt}{col 49}Wald chi2({res}7{txt}){col 67}={col 70}{res}    27.01
{txt}{col 49}Prob > chi2{col 67}={res}{col 73}0.0003

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       rjco2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}rjgdp {c |}{col 14}{res}{space 2} -2.75666{col 26}{space 2} 3.390625{col 37}{space 1}   -0.81{col 46}{space 3}0.416{col 54}{space 4}-9.402163{col 67}{space 3} 3.888843
{txt}{space 6}rjgdp2 {c |}{col 14}{res}{space 2}  .360524{col 26}{space 2} .3988677{col 37}{space 1}    0.90{col 46}{space 3}0.366{col 54}{space 4}-.4212424{col 67}{space 3}  1.14229
{txt}{space 10}ts {c |}{col 14}{res}{space 2} .1710628{col 26}{space 2} .0823537{col 37}{space 1}    2.08{col 46}{space 3}0.038{col 54}{space 4} .0096526{col 67}{space 3}  .332473
{txt}{space 10}es {c |}{col 14}{res}{space 2} .2730929{col 26}{space 2} .1070352{col 37}{space 1}    2.55{col 46}{space 3}0.011{col 54}{space 4} .0633078{col 67}{space 3}  .482878
{txt}{space 10}fd {c |}{col 14}{res}{space 2}-.0397883{col 26}{space 2} .0818271{col 37}{space 1}   -0.49{col 46}{space 3}0.627{col 54}{space 4}-.2001665{col 67}{space 3} .1205898
{txt}{space 9}fdi {c |}{col 14}{res}{space 2}-.0107986{col 26}{space 2} .0058368{col 37}{space 1}   -1.85{col 46}{space 3}0.064{col 54}{space 4}-.0222386{col 67}{space 3} .0006414
{txt}{space 10}tp {c |}{col 14}{res}{space 2} 1.291633{col 26}{space 2} 1.670607{col 37}{space 1}    0.77{col 46}{space 3}0.439{col 54}{space 4}-1.982696{col 67}{space 3} 4.565961
{txt}{space 7}c_d_p {c |}{col 14}{res}{space 2}  1.07821{col 26}{space 2} .4106475{col 37}{space 1}    2.63{col 46}{space 3}0.009{col 54}{space 4} .2733558{col 67}{space 3} 1.883065
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .0784185{col 26}{space 2} 6.389456{col 37}{space 1}    0.01{col 46}{space 3}0.990{col 54}{space 4}-12.44468{col 67}{space 3} 12.60152
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Root Mean Squared Error (sigma): {res}0.0230
{txt}Variable {res}c_d_p{txt} refers to the common dynamic process.

{com}. xtmg rjco2 rjgdp rjgdp2 ts es fd fdi tp,cce


{txt}Pesaran (2006) Common Correlated Effects Mean Group estimator

All coefficients represent averages across groups (group variable: {res}id{txt})
Coefficient averages computed as {res}unweighted{txt} means

Mean Group type estimation{col 49}Number of obs{col 67}={col 69}{res}       660
{txt}Group variable: {res}id{col 49}{txt}Number of groups{col 67}={col 69}{res}        22

{txt}{col 49}Obs per group:
{col 63}min{col 67}={col 69}{res}        30
{txt}{col 63}avg{col 67}={col 69}{res}      30.0
{txt}{col 63}max{col 67}={col 69}{res}        30

{txt}{col 49}Wald chi2({res}7{txt}){col 67}={col 70}{res}    42.96
{txt}{col 49}Prob > chi2{col 67}={res}{col 73}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       rjco2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}rjgdp {c |}{col 14}{res}{space 2}-1.198064{col 26}{space 2} 1.735741{col 37}{space 1}   -0.69{col 46}{space 3}0.490{col 54}{space 4}-4.600053{col 67}{space 3} 2.203926
{txt}{space 6}rjgdp2 {c |}{col 14}{res}{space 2} .1753181{col 26}{space 2} .1956056{col 37}{space 1}    0.90{col 46}{space 3}0.370{col 54}{space 4}-.2080617{col 67}{space 3}  .558698
{txt}{space 10}ts {c |}{col 14}{res}{space 2} .3501977{col 26}{space 2} .1373049{col 37}{space 1}    2.55{col 46}{space 3}0.011{col 54}{space 4} .0810851{col 67}{space 3} .6193103
{txt}{space 10}es {c |}{col 14}{res}{space 2}-.0498832{col 26}{space 2} .1048516{col 37}{space 1}   -0.48{col 46}{space 3}0.634{col 54}{space 4}-.2553886{col 67}{space 3} .1556221
{txt}{space 10}fd {c |}{col 14}{res}{space 2}-.1076186{col 26}{space 2} .0652409{col 37}{space 1}   -1.65{col 46}{space 3}0.099{col 54}{space 4}-.2354884{col 67}{space 3} .0202513
{txt}{space 9}fdi {c |}{col 14}{res}{space 2}-.0089108{col 26}{space 2} .0044611{col 37}{space 1}   -2.00{col 46}{space 3}0.046{col 54}{space 4}-.0176544{col 67}{space 3}-.0001673
{txt}{space 10}tp {c |}{col 14}{res}{space 2}-1.940752{col 26}{space 2} 1.134007{col 37}{space 1}   -1.71{col 46}{space 3}0.087{col 54}{space 4}-4.163366{col 67}{space 3} .2818608
{txt}{space 3}rjco2_avg {c |}{col 14}{res}{space 2} 1.166664{col 26}{space 2} .5719732{col 37}{space 1}    2.04{col 46}{space 3}0.041{col 54}{space 4} .0456176{col 67}{space 3} 2.287711
{txt}{space 3}rjgdp_avg {c |}{col 14}{res}{space 2}  .068586{col 26}{space 2} 2.710249{col 37}{space 1}    0.03{col 46}{space 3}0.980{col 54}{space 4}-5.243405{col 67}{space 3} 5.380577
{txt}{space 2}rjgdp2_avg {c |}{col 14}{res}{space 2}-.0325708{col 26}{space 2} .3148172{col 37}{space 1}   -0.10{col 46}{space 3}0.918{col 54}{space 4}-.6496011{col 67}{space 3} .5844596
{txt}{space 6}ts_avg {c |}{col 14}{res}{space 2}-.3903029{col 26}{space 2} .2750296{col 37}{space 1}   -1.42{col 46}{space 3}0.156{col 54}{space 4} -.929351{col 67}{space 3} .1487452
{txt}{space 6}es_avg {c |}{col 14}{res}{space 2} .1315751{col 26}{space 2} .2608303{col 37}{space 1}    0.50{col 46}{space 3}0.614{col 54}{space 4} -.379643{col 67}{space 3} .6427932
{txt}{space 6}fd_avg {c |}{col 14}{res}{space 2} .2784013{col 26}{space 2} .2043976{col 37}{space 1}    1.36{col 46}{space 3}0.173{col 54}{space 4}-.1222106{col 67}{space 3} .6790133
{txt}{space 5}fdi_avg {c |}{col 14}{res}{space 2} .0170741{col 26}{space 2} .0179919{col 37}{space 1}    0.95{col 46}{space 3}0.343{col 54}{space 4}-.0181894{col 67}{space 3} .0523376
{txt}{space 6}tp_avg {c |}{col 14}{res}{space 2} 1.476138{col 26}{space 2} 1.419198{col 37}{space 1}    1.04{col 46}{space 3}0.298{col 54}{space 4}-1.305439{col 67}{space 3} 4.257715
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 3.620707{col 26}{space 2}  10.1155{col 37}{space 1}    0.36{col 46}{space 3}0.720{col 54}{space 4}-16.20531{col 67}{space 3} 23.44672
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Root Mean Squared Error (sigma): {res}0.0142
Cross-section averaged regressors{txt} are marked by the suffix {res}avg{txt}.

{com}. xtmg rjco2 rjgdp rjgdp2 ts es fd fdi tp


{txt}Pesaran & Smith (1995) Mean Group estimator

All coefficients represent averages across groups (group variable: {res}id{txt})
Coefficient averages computed as {res}unweighted{txt} means

Mean Group type estimation{col 49}Number of obs{col 67}={col 69}{res}       660
{txt}Group variable: {res}id{col 49}{txt}Number of groups{col 67}={col 69}{res}        22

{txt}{col 49}Obs per group:
{col 63}min{col 67}={col 69}{res}        30
{txt}{col 63}avg{col 67}={col 69}{res}      30.0
{txt}{col 63}max{col 67}={col 69}{res}        30

{txt}{col 49}Wald chi2({res}7{txt}){col 67}={col 70}{res}    34.31
{txt}{col 49}Prob > chi2{col 67}={res}{col 73}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       rjco2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}rjgdp {c |}{col 14}{res}{space 2} 4.327081{col 26}{space 2} 1.241365{col 37}{space 1}    3.49{col 46}{space 3}0.000{col 54}{space 4}  1.89405{col 67}{space 3} 6.760112
{txt}{space 6}rjgdp2 {c |}{col 14}{res}{space 2}-.4853313{col 26}{space 2}  .137031{col 37}{space 1}   -3.54{col 46}{space 3}0.000{col 54}{space 4}-.7539071{col 67}{space 3}-.2167555
{txt}{space 10}ts {c |}{col 14}{res}{space 2}-.0131697{col 26}{space 2} .0896899{col 37}{space 1}   -0.15{col 46}{space 3}0.883{col 54}{space 4}-.1889587{col 67}{space 3} .1626193
{txt}{space 10}es {c |}{col 14}{res}{space 2} .3545204{col 26}{space 2} .1098579{col 37}{space 1}    3.23{col 46}{space 3}0.001{col 54}{space 4}  .139203{col 67}{space 3} .5698379
{txt}{space 10}fd {c |}{col 14}{res}{space 2} .2536042{col 26}{space 2} .0918742{col 37}{space 1}    2.76{col 46}{space 3}0.006{col 54}{space 4} .0735341{col 67}{space 3} .4336743
{txt}{space 9}fdi {c |}{col 14}{res}{space 2}-.0105768{col 26}{space 2} .0069341{col 37}{space 1}   -1.53{col 46}{space 3}0.127{col 54}{space 4}-.0241673{col 67}{space 3} .0030137
{txt}{space 10}tp {c |}{col 14}{res}{space 2}-1.605062{col 26}{space 2} .7749446{col 37}{space 1}   -2.07{col 46}{space 3}0.038{col 54}{space 4}-3.123926{col 67}{space 3}-.0861987
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .6890201{col 26}{space 2} 4.851499{col 37}{space 1}    0.14{col 46}{space 3}0.887{col 54}{space 4}-8.819742{col 67}{space 3} 10.19778
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Root Mean Squared Error (sigma): {res}0.0348

{com}. save "C:\Users\dell\Desktop\7.21hi.dta", replace
{txt}file C:\Users\dell\Desktop\7.21hi.dta saved

{com}. use "C:\Users\dell\Desktop\7.21all.dta"

. xtmg rjco2 rjgdp rjgdp2 ts es fd fdi tp


{txt}Pesaran & Smith (1995) Mean Group estimator

All coefficients represent averages across groups (group variable: {res}id{txt})
Coefficient averages computed as {res}unweighted{txt} means

Mean Group type estimation{col 49}Number of obs{col 67}={col 69}{res}     2,430
{txt}Group variable: {res}id{col 49}{txt}Number of groups{col 67}={col 69}{res}        81

{txt}{col 49}Obs per group:
{col 63}min{col 67}={col 69}{res}        30
{txt}{col 63}avg{col 67}={col 69}{res}      30.0
{txt}{col 63}max{col 67}={col 69}{res}        30

{txt}{col 49}Wald chi2({res}7{txt}){col 67}={col 70}{res}    33.64
{txt}{col 49}Prob > chi2{col 67}={res}{col 73}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       rjco2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}rjgdp {c |}{col 14}{res}{space 2} 1.652774{col 26}{space 2} .8376101{col 37}{space 1}    1.97{col 46}{space 3}0.048{col 54}{space 4} .0110887{col 67}{space 3}  3.29446
{txt}{space 6}rjgdp2 {c |}{col 14}{res}{space 2}-.2085311{col 26}{space 2} .1453594{col 37}{space 1}   -1.43{col 46}{space 3}0.151{col 54}{space 4}-.4934302{col 67}{space 3}  .076368
{txt}{space 10}ts {c |}{col 14}{res}{space 2} .0406843{col 26}{space 2} .0570226{col 37}{space 1}    0.71{col 46}{space 3}0.476{col 54}{space 4} -.071078{col 67}{space 3} .1524466
{txt}{space 10}es {c |}{col 14}{res}{space 2} .1530118{col 26}{space 2} .0906785{col 37}{space 1}    1.69{col 46}{space 3}0.092{col 54}{space 4}-.0247148{col 67}{space 3} .3307383
{txt}{space 10}fd {c |}{col 14}{res}{space 2} .1403382{col 26}{space 2} .0374671{col 37}{space 1}    3.75{col 46}{space 3}0.000{col 54}{space 4}  .066904{col 67}{space 3} .2137723
{txt}{space 9}fdi {c |}{col 14}{res}{space 2}-.0067805{col 26}{space 2} .0051584{col 37}{space 1}   -1.31{col 46}{space 3}0.189{col 54}{space 4}-.0168908{col 67}{space 3} .0033298
{txt}{space 10}tp {c |}{col 14}{res}{space 2} .0132641{col 26}{space 2} .3242593{col 37}{space 1}    0.04{col 46}{space 3}0.967{col 54}{space 4}-.6222724{col 67}{space 3} .6488006
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-4.033113{col 26}{space 2} 2.550869{col 37}{space 1}   -1.58{col 46}{space 3}0.114{col 54}{space 4}-9.032724{col 67}{space 3} .9664983
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Root Mean Squared Error (sigma): {res}0.0529

{com}. xtmg rjco2 rjgdp rjgdp2 ts es fd fdi tp,cce


{txt}Pesaran (2006) Common Correlated Effects Mean Group estimator

All coefficients represent averages across groups (group variable: {res}id{txt})
Coefficient averages computed as {res}unweighted{txt} means

Mean Group type estimation{col 49}Number of obs{col 67}={col 69}{res}     2,430
{txt}Group variable: {res}id{col 49}{txt}Number of groups{col 67}={col 69}{res}        81

{txt}{col 49}Obs per group:
{col 63}min{col 67}={col 69}{res}        30
{txt}{col 63}avg{col 67}={col 69}{res}      30.0
{txt}{col 63}max{col 67}={col 69}{res}        30

{txt}{col 49}Wald chi2({res}7{txt}){col 67}={col 70}{res}    15.18
{txt}{col 49}Prob > chi2{col 67}={res}{col 73}0.0337

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       rjco2{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}rjgdp {c |}{col 14}{res}{space 2}-.0589066{col 26}{space 2} 2.165505{col 37}{space 1}   -0.03{col 46}{space 3}0.978{col 54}{space 4}-4.303219{col 67}{space 3} 4.185406
{txt}{space 6}rjgdp2 {c |}{col 14}{res}{space 2} -.016135{col 26}{space 2} .2859508{col 37}{space 1}   -0.06{col 46}{space 3}0.955{col 54}{space 4}-.5765883{col 67}{space 3} .5443183
{txt}{space 10}ts {c |}{col 14}{res}{space 2} .1403418{col 26}{space 2} .0479459{col 37}{space 1}    2.93{col 46}{space 3}0.003{col 54}{space 4} .0463695{col 67}{space 3} .2343141
{txt}{space 10}es {c |}{col 14}{res}{space 2} .0863886{col 26}{space 2}  .077984{col 37}{space 1}    1.11{col 46}{space 3}0.268{col 54}{space 4}-.0664573{col 67}{space 3} .2392345
{txt}{space 10}fd {c |}{col 14}{res}{space 2} .0264951{col 26}{space 2} .0370994{col 37}{space 1}    0.71{col 46}{space 3}0.475{col 54}{space 4}-.0462184{col 67}{space 3} .0992086
{txt}{space 9}fdi {c |}{col 14}{res}{space 2} .0011141{col 26}{space 2} .0044466{col 37}{space 1}    0.25{col 46}{space 3}0.802{col 54}{space 4}-.0076011{col 67}{space 3} .0098292
{txt}{space 10}tp {c |}{col 14}{res}{space 2}-.7242545{col 26}{space 2} 2.427838{col 37}{space 1}   -0.30{col 46}{space 3}0.765{col 54}{space 4} -5.48273{col 67}{space 3} 4.034221
{txt}{space 3}rjco2_avg {c |}{col 14}{res}{space 2} 1.191451{col 26}{space 2} .4018455{col 37}{space 1}    2.96{col 46}{space 3}0.003{col 54}{space 4} .4038487{col 67}{space 3} 1.979054
{txt}{space 3}rjgdp_avg {c |}{col 14}{res}{space 2} -.708283{col 26}{space 2} 1.322741{col 37}{space 1}   -0.54{col 46}{space 3}0.592{col 54}{space 4}-3.300808{col 67}{space 3} 1.884242
{txt}{space 2}rjgdp2_avg {c |}{col 14}{res}{space 2} .0664161{col 26}{space 2}  .184397{col 37}{space 1}    0.36{col 46}{space 3}0.719{col 54}{space 4}-.2949955{col 67}{space 3} .4278276
{txt}{space 6}ts_avg {c |}{col 14}{res}{space 2} -.108464{col 26}{space 2} .1936533{col 37}{space 1}   -0.56{col 46}{space 3}0.575{col 54}{space 4}-.4880175{col 67}{space 3} .2710894
{txt}{space 6}es_avg {c |}{col 14}{res}{space 2} .1349138{col 26}{space 2} .3088648{col 37}{space 1}    0.44{col 46}{space 3}0.662{col 54}{space 4}-.4704501{col 67}{space 3} .7402776
{txt}{space 6}fd_avg {c |}{col 14}{res}{space 2}-.0233484{col 26}{space 2} .2426284{col 37}{space 1}   -0.10{col 46}{space 3}0.923{col 54}{space 4}-.4988913{col 67}{space 3} .4521945
{txt}{space 5}fdi_avg {c |}{col 14}{res}{space 2}-.0035784{col 26}{space 2} .0209704{col 37}{space 1}   -0.17{col 46}{space 3}0.865{col 54}{space 4}-.0446796{col 67}{space 3} .0375228
{txt}{space 6}tp_avg {c |}{col 14}{res}{space 2} 3.585251{col 26}{space 2} 2.125555{col 37}{space 1}    1.69{col 46}{space 3}0.092{col 54}{space 4}-.5807613{col 67}{space 3} 7.751263
{txt}{space 7}_cons {c |}{col 14}{res}{space 2}-15.32128{col 26}{space 2} 7.946415{col 37}{space 1}   -1.93{col 46}{space 3}0.054{col 54}{space 4}-30.89597{col 67}{space 3} .2534037
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Root Mean Squared Error (sigma): {res}0.0303
Cross-section averaged regressors{txt} are marked by the suffix {res}avg{txt}.

{com}. xtmg rjco2 rjgdp rjgdp2 ts es fd fdi tp,aug
{err}              st_store():  3200  conformability error
                 <istmt>:     -  function returned error
{txt}{search r(3200), local:r(3200);}

{com}. xtcointreg rjco2 rjgdp rjgdp2 ts es fd fdi tp, est(fmols)
Method of estimation: fmols
Number
{res}
{txt}Cave[7,2]
          beta  t-stat
 rjgdp {res}   1.62   16.97
{txt}rjgdp2 {res}  -0.20  -10.75
{txt}    ts {res}   0.01   19.99
{txt}    es {res}   0.15   24.97
{txt}    fd {res}   0.13   46.86
{txt}   fdi {res}  -0.01    6.07
{txt}    tp {res}  -0.08   12.46
{reset}
{com}. help xtcointreg

. help xtgls

. ssc install ivreg2
{txt}checking {hilite:ivreg2} consistency and verifying not already installed...
installing into C:\Users\dell\ado\plus\...
installation complete.

{com}. help ivreg2

. ivreg2 rjco2 rjgdp rjgdp2 ts es fd fdi tp,gmm2s
{err}Error: must have ranktest version 01.3.02 or greater installed
To install, from within Stata type {stata ssc install ranktest :ssc install ranktest}
{txt}{search r(601), local:r(601);}

{com}. ssc install ranktest 
{txt}checking {hilite:ranktest} consistency and verifying not already installed...
installing into C:\Users\dell\ado\plus\...
installation complete.

{com}. ivreg2 rjco2 rjgdp rjgdp2 ts es fd fdi tp,gmm2s
{err}option gmm2s invalid: no excluded instruments specified
{txt}{search r(102), local:r(102);}

{com}. save "C:\Users\dell\Desktop\7.21all.dta", replace
{txt}file C:\Users\dell\Desktop\7.21all.dta saved

{com}. exit
